NOK Nokia Corp

Based on Nokia Corporation's 2011 Stock Option Plan a total of 200 365 Nokia shares were subscribed for between December 1 and December 30, 2015. The subscription price was EUR 5.76 per share for 121 815 shares, EUR 4.58 per share for 1 400 shares, EUR 3.50 per share for 2 000 shares, EUR 2.18 per share for 22 650 shares and EUR 1.92 per share for 52 500 shares. The total amount of the subscription price, EUR 865 243.40, will be recorded in the fund for invested non-restricted equity and, consequently, the share capital of the company does not increase.

The new shares carry all the shareholder rights as of the registration date January 8, 2016. The shares will commence trading in Nasdaq Helsinki (NOKIA) together with other Nokia shares as of January 11, 2016 and are expected to commence trading on Euronext Paris (NOKIA) as of January 12, 2016. Euronext Paris will publish a notice announcing the admission to trading on Euronext Paris of the new shares.

The amount of Nokia shares after registration of the shares in the Trade Register is 5 448 742 644 shares.

About Nokia By focusing on the human possibilities of technology, Nokia embraces the connected world to help people thrive. Our businesses are leaders in their respective fields: Nokia Networks provides broadband infrastructure, software and services; and Nokia Technologies provides advanced technology development and licensing. www.nokia.com

Media Enquiries: Nokia Communications Tel. +358 (0) 10 448 4900 Email: press.services@nokia.com

HUG#1977368